What is the significance of setting up a deregulation commission in India according to PM Modi
PM Modi plans to establish a deregulation commission to further reduce the State's role in governance.
Setting up a deregulation commission in India, as per PM Modi, holds significant importance due to the following reasons:
- Drive Economic Growth: The commission aims to reduce bureaucratic hurdles and simplify regulatory processes, thus boosting economic growth.
- Promote Ease of Doing Business: By streamlining regulations, it will attract more investments and facilitate a conducive environment for businesses to thrive.
- Enhance Competitiveness: Removing unnecessary regulations will improve the competitiveness of Indian businesses on a global scale.
- Boost Innovation: A lighter regulatory burden can encourage innovation and entrepreneurship by providing more freedom for experimentation and risk-taking.
- Efficiency in Governance: The commission will ensure a more efficient and effective governance system by reducing red tape and increasing transparency.
Answered
2 months ago